budgetSITXFIN004 ASSESS 1.docx - SITXFIN501 Prepare and Monitor budgets Activity 1 Student\u2019 s details 1 Student Full Name Mervin Farrofo Student ID

budgetSITXFIN004 ASSESS 1.docx - SITXFIN501 Prepare and...

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SITXFIN501 Prepare and Monitor budgets Activity 1 Student’ s details Student Full Name: Mervin Farrofo Student ID: 10347 Class: Stage 6C Teacher: Webb Shane Date: 23/08/2019 1. Based on the following information you are required to develop a cash flow statement for the first six months of the calendar year. You are imagining it is the 31 st of December when you complete this. Estimated sales Cash sales Credit sales $ $ January 1,600 19,250 February 800 6,000 March 1,100 12,950 April 1,500 15,000 May 1,500 15,000 June 12,000 1,500 Past performance has indicated that the following payment patterns exist. 45% of debtors pay in the first 30 days 35% of debtors pay in 60 days 20% of debtors pay in 90 days Purchases Actual sales Cash sales Credit sales SITXFIN501-Assessment-1.odt Assessment 1 Version 1 Page 1 of 7 ©copyright Academia International 2014 Approved By: B.Wade
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December 5,200 $ $ January 5,500 October 1,300 9,800 February 5,550 November 1,400 15,350 March 5,250 December 2,000 11,250 April 6,500 May 6,000 All purchases are paid for one month after June 3,200 purchase Other expenses: Wages are $3,400 per month with 9% superannuation paid every three months. PAYG of 22% is also paid at this time.
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